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Passion Economy and the Side Hustle Revolution

Passion Economy and the Side Hustle Revolution

Critical Acclaim

July 2022 | 364 pages | SAGE Response
Work’ is getting unbundled from ‘employment’ and the ‘The Great Resignation’ has become the new normal. As the passion economy becomes mainstreamed, people will look to build a portfolio of professions that create multiple income streams. They are likely to monetize their passions and build a career on their terms, seeking autonomy, mastery and purpose along the way. Today it is possible to do what you love, teach what you love and make a living. This book will tell you HOW.

Foreword by Klaus Schwab
SECTION I Passion Economy Fundamentals
What Is Passion Economy?
Don’t Follow Your Passion, Fuel It
Let Your Curiosity Guide You
Society and Passion Economy
What Would Work Look Like 50/10 Years from Now?
Stupid Status Games and Careers to Avoid
Passion Economy Platforms
To Build a Platform or to Use One?
Chief Community Officer: The Secret Job Nobody Knew about
SECTION II: Passion Economy Career Principles
Everyone’s Job Is World-building, Even if They Don’t Realize It
Build a Category of One
Quitting Your Job for a Big Career Transition? Here’s What You Need to Think About
Rethinking Your Career
The AMP Framework
Alternate Careers, Web 3.0 and the History of the Internet
Marx, Adam Smith and Part-time Retirements
Marx, Adam Smith and Bullshit Jobs
Difference between Influencers and Creators
SECTION III: Alternate Careers, Passion Economy Platforms and the New World of Work
Solving Unemployment by Playing Videogames
The Mystery of Only Fans: Industry Disruptor or Sleaze Platform?
The Economics of Newsletters and Millionaire Newsletter Writers
How Writing Can Pave the Way for Venture Capital Careers
Spotify’s Joe Rogan Experiment
BTS: The Korean Boy Band That Build a Multi-billion Empire
14th Most Populous Country: PewDiePie
How Peloton Is Boosting the Passion Economy
Case Study on Lil Nas X
Burgers, French Fries and a Multi-million-dollar YouTube Empire: Mr Beast
Ali Abdaal: Cambridge Doctor Turned YouTuber
Million-dollar Facebook Engineer Who Quit to Become a YouTuber
Lebanon and the Unemployable Professor Taking Philosophy Back to the Marketplace
Kiran Gandhi: Harvard MBA Turned Musician and Activist
How Gen Zs Are Transforming the Career Navigation Space
Trevor Noah, Reid Hoffman and the Future of One-person Companies
How Tony Robbins Created His ‘Category of One’
Curation as a Service
The TikTok Factor
SECTION IV: Mental Models and Principles for Making Passion Economy Work for You
Find Your Frustration and Start a Side Hustle
Why Prescriptions and Playbooks Don’t Work
Productize Yourself
Teach Something
Avoid the FOMO Trap
Become a Deep Generalist
Seek Alternative Creator Monetization Paths
Keep the 80–20 Principle in Mind
Take Stock
Don’t Manage Your Time, Manage Your Energy
Avoid the Envy Trap and Make It Work for You
Think Big, Act Small
Build a Minimum Lovable Product: MLP (MVP Version of Amazon)
Speak to Customers and Train Yourself to Think like an Anthropologist
Resist the Funding Temptation
Relentlessly Focus on Building a Community
The Access Economy
Create Constraints
Learn to Create Win–Win Outcomes
Build the Right Mindset
Focus on Your Superpower and Outsource Everything Else
Build a Tribe of Mentors
Build a Challenger Network
Don’t Feel Pressured to Be on Top of Everything, Remember Donald Knuth
Become Backable
Keep the Japanese Philosophy of Kintsugi in Mind
Schedule Time for Long-term Thinking
Always Keep Taleb’s Two Concepts in Mind: Anti-fragility and Ergodicity
Learn, Unlearn and Relearn Constantly
Building a Portfolio of Careers
Co-create the Journey
SECTION V: Passion Economy Challenges
Platform Fatigue and Languishing
Public Policy, Governments and Passion Economy
The Challenges of Being Your Own Boss
SECTION VI: Conclusion

Mentorship and community building are important focus areas of the book. Utkarsh offers mental models for creators and passion economy participants to build a tribe of mentors and, leveraging the power of communities, propel others to do the same. Scaling mentorship is about scaling trust, empathy and kindness. Utkarsh has done that effectively with Network Capital and explains that with clarity and conviction in Passion Economy and the Side Hustle Revolution.

Sanjiv Saraf

Utkarsh captures the essence of the passion economy with fascinating stories from across the world. He deftly engages with the ‘impossible triangle’ of policy, platform and passion, which influences our professional endeavours and defines our place and purpose in these exciting times. Utkarsh’s book mirrors his own experiments with all aspects of life.

Samir Saran
President, Observer Research Foundation

In the Network Capital masterclasses and podcasts, Utkarsh asked me thought-provoking questions about the future of work and emerging trends in employment. I found his clarity of thinking remarkable and am glad that he wrote a book to unpack how the world of work will look like in the post-pandemic world. As the founder of a global mentorship platform, he is uniquely positioned to discuss what people want with their work lives and why.

His book suggests that the ability to reinvent oneself will be the most critical skill in the times to come. Even though the majority of case studies are about millennials, Utkarsh effectively makes the point that we are entering an era of multi-generational leadership where people across age groups will need to collaborate and support each other in their reinvention.

The last few years permanently changed our relationship with work. Things aren’t likely to go back to the way they were. Perhaps that is a good thing. This way we get to redefine the norms, reduce the biases and co-create a new normal for work that is equitable and impactful. By writing a book on the passion economy, Utkarsh has initiated an important conversation not only about work but also our guiding philosophy of the society of tomorrow.

Shashi Tharoor
Member of Parliament and Award-winning Author

Jobs in 2030 will require us to reinvent ourselves. Utkarsh’s book demystifies the future of work. He explains how we can prepare ourselves and offers concrete ideas for people and organizations hungry to build what he calls a ‘category of one’.

Tarun Khanna
Professor, Harvard Business School

Utkarsh’s book makes a strong case for building a portfolio of careers in the 21st century. As someone who started his career in finance, built a private equity fund and then transitioned to shaping the education landscape, I found the frameworks in the book highly relevant and actionable. He has done a great job of capturing stories of changemakers from around the world who are building new kinds of careers drawing upon their intrinsic curiosity. We are witnessing a subtle shift from the gig economy to the passion economy. Utkarsh’s book offers a comprehensive analysis of why this is happening and what can we do about it to create meaningful opportunities for ourselves and our communities.

Ashish Dhawan
Founder of Central Square Foundation and Ashoka University

As we moved from the industrial economy of the last two centuries where the workforce were mere cogs in a wheel, the shared economy of today gave birth to the concept of mass customization. The perfect coming together of pursuit of purpose, deep tech and design principles provides a new opportunity to pursue what’s right for each of us and yet build companies that create more wealth than ever before. By writing a book on the passion economy, Utkarsh has initiated an important conversation of not just improving on the past but redesigning our guiding philosophy of the society of tomorrow.

Lakshmi Pratury
Founder and CEO of INK

Utkarsh’s book provides a comprehensive road map about the future of work. He connects the dots across industries and geographies with deeply researched case studies about the passion economy. It is a gripping read that makes you think about your future self with a sense of adventure and possibility.

T. N. Hari
CHRO, Bigbasket

I found Passion Economy and the Side Hustle Revolution to be a comprehensive analysis of how the world of work will look like in the 21st century. It offers tools and mental models for millennials, Gen Z and baby boomers to reinvent themselves. This intergenerational shift in our attitude towards work is a difficult subject to capture. Utkarsh has done a great job of capturing the nuances and presenting them with interesting examples from around the world.

Pramath Raj Sinha
Founder, Harappa Education and Ashoka University

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ISBN: 9789354794964